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CAUSE | OPINION | CHRONOLOGY | EVENTS SEQUENCE | VIDEO

Raiffeisenbank (Bulgaria) EAD, in the person of its Head Executive General Manager, Mr. Momchil Andreev, has deliberately caused the bankruptcy of its client VITTA FOODS with the aim of selling its assets to BELLA Bulgaria to help strengthen its monopoly on the production and trade with frozen pastry products.

Who are we?

We are the citizens of a small border town in Bulgaria, today’s soldiers in the huge anonymous army of the unemployed. Until the emblematic date in the history of Bulgaria – 10th Nov, not 1989, but 2010 we were proud workers and employees at the closed now Factory for frozen pastry products of VITTA FOODS, in Svilengrad.
Some of us still bear the flame of the youthful audacity and the ambition to prove themselves, whereas others - the strength and composure of maturity, wisdom and experience acquired over the years, but are still able to dream. Regardless of our age, we are all experts in our fields: some are highly-qualified operators of modern equipment, others - experts in food technologies, engineering and computer science, logistics, accountancy and finance, quality and safety.
We are not just a random set of people but are the parts of a well-oiled machine – a group of friends who side by side managed to accomplish something that still amazes experts from Bulgaria and abroad. For less than a year we managed to design, build on ruins, equip and put into operation a modern factory for production of frozen pastry products (rolled banitsi filo pastry, puff pastry products and roll pastry), which was also successfully certified for full compliance with the international quality standards. With the help of the experts from the University on Food Technology we created our know-how – unique products under the trademarks of TSARITSA and VITTA CATERING, whose excellent taste and proven quality quickly made them popular on our market as well as in Romania, the USA, Great Britain, Greece, Spain, Holland and more.
We would like to emphasize that our product choice was not accidental – it closed the last phase of our production cycle after ten years’ experience in the processing grain to obtain mill products (various flours and feed raw materials).

What happened?

The factory was built with our own personal funds and an investment loan from Raiffeisenbank (Bulgaria) EAD; the main machines were bought with the assistance of Raiffeisen Leasing Bulgaria Ltd.
The full company’s history as well as the events chronology of the last three weeks with some enclosed materials can be found at http://vittafoods.bg/, but now we would like to point out several moments which we find to be significant in this case.
Since June 2010, at an auction carried out by an Executory Officer, the building has been the property of Raiffeisenbank (Bulgaria) EAD; the machines - of Raiffeisen Leasing Bulgaria Ltd. In August (2010) VITTA FOODS company was declared insolvent and a trustee was assigned.
Regardless of this change of proprietor, the factory continued to work on a cut and make basis with the knowledge of Momchil Andreev – Head Executive General Manager of Raiffeisenbank (Bulgaria) EAD, who even paid a personal visit to the site. That visit he later on persistently denied and even lied to the Mayor of the Municipality of Svilengrad that he was not aware that people worked and used the assets, now property of the Bank he is head of.
All that time we were receiving troublesome information from various sources that our main competitor on the market is in the root of our bankruptcy, namely the food holding BELLA Bulgaria, but in the last three weeks it has been clearly shown that BELLA Bulgaria’s actions were well-supported by Raiffeisenbank (Bulgaria) EAD.
The Bank’s conduct has drastically changed after a Letter, dated 26th Oct 2010, in which the staff expressed their concerns to the Bank about the intended shut-down of the factory and thus endangered the outcome of its well-conceived plot. The Bank reacted in a flash. On 1st Nov 2010 an Executory Officer put in possession the new owners of the assets, namely the Bank and the Leasing Company; on 10th Nov 2010 we were not admitted to our working places. The assets were frozen, the true investors – rejected.
We sent numerous letters to both Raiffeisenbank (Bulgaria) EAD and Raiffeisen Central Bank in Vienna. Some of them received no answer, others a negative one, while the Head Office based in Austria never took the trouble to put its attitude in writing.
On 16th Nov 2010 we organized and held a peaceful protest in front of the Bank’s Head Office in Sofia, having sent in advance a press release to all media, to which responded only one and even it did not cover the event after that.
At our protest we made two main requests:

1. To be granted at least one-month deadline to release the assets (so that we are able to fulfill orders taken for which raw materials had already been bought and to organize the transfer of ready production requiring special storage conditions) and
2. The Bank to evaluate as well the social effect of the potential sale of the factory assets by selling it to a buyer who declares not to sell it by the piece or shut it down, but promises to develop the PRODUCTION.

We were informed that three investors have declared their interest to buy the factory and that the decision will be made in Vienna, but the conditions for the sale defined by the Bank unambiguously point to a buyer already predetermined. These conditions immediately reject from the list of potential buyers the only investor who visited the plant, analyzed the business capacity, met the team and explicitly declared his intention to continue the production provided that the factory keeps running and market share is preserved.
We are now expecting to learn the Bank’s choice so that the public can see if it corresponds to the texts its Code of Ethic Conduct on integrity, customer orientation and social commitment ….Or on the contrary – the top management team in the face of Momchil Andreev, Head Executive General Manager of Raiffeisenbank (Bulgaria) EAD, with a final stroke of a quill pen, will finish off this closely followed scenario to satisfy the greed of the industry monopolist – BELLA Bulgaria, or maybe even his own.
Only time will tell …

What are we fighting for?

We are fighting now for the main human right – the right to work. We would like to have the chance, once again, to be proud with our achievements and feel secure about the future of our families. For sure we will be neither the first nor the last victims of oligarchy interests – people who spare no means to achieve their goals, even if this might mean the ruining of dozens of human lives.
But we will continue to defend our cause. Strengths are not even. The media blackout on the case is not at all accidental. The media refuse to have a standpoint, faced with the dilemma to show an interest or lose their main advertisers. We saw what they had chosen (or traded) as in the last two weeks the advertising presence of both Raiffeisenbank (Bulgaria) EAD and BELLA Bulgaria has dramatically increased in all media.

Our opinion is:

Raiffeisenbank (Bulgaria) EAD, in the person of its Head Executive General Manager, Mr. Momchil Andreev, has deliberately caused the bankruptcy of its client VITTA FOODS with the aim of selling its assets to BELLA Bulgaria to help strenthen its monopoly on the production and trade with frozen pastry products.

We rely and would be grateful to receive support and cooperation from any place or person who is able and willing to help us prevent the silent murder of our company and the future of 40 or maybe even more families, as well as bring in the focus of public attention the sore issue of unemployment and who is responsible for it.

Eng. Boyko Yanev
Manager

Plamen Mirchev
Workers’ Representative

Nikolay Chankov
Director Production

Petko Pachov
CFO

OPINION (top)

VENTSISLAV GEORGIEV– Owner of BELLA Bulgaria and
MOMCHIL ANDREEV– Executive General Manager of Raiffeisenbank (Bulgaria) EAD

ARE GETTING READY TO KILL

Dear Raiffeisenbank clients, colleagues by fate,

I will tell you a story that would belong to the fairy tales section in literature textbooks but, unfortunately, is a cruel reality. The events described in it are not fiction and all characters have their real prototypes.

‘In a small far-away town with a silky name a little queen* was born. She became everybody’s favourite as she was created with much love – firstly by the thought, then by the caring hands of hundreds of working people, who took care of her night and day, as she was their nice sweet little child. However, as it often happens…….two people were not very happy about that: one of them – the ruler of a powerful kingdom (with a name of Italian flavour) who felt happy only if he had everything to himself; the other one – an autonomous vassal of a big empire (on whose coat of arms wooden horses can be seen), who pretended to help the young queen grow but, in fact, was quietly conceiving hellish plans.

Part One: The rumour of the newly-born queen spread out over hill and dale. Everybody it reached smiled and from these smiles it spread out even faster. The grown-up queen scared the ruler of the powerful kingdom. He felt in danger that she would take something from him, which, he thought, belonged to him by rights and since he could not stop her in any other way, with the help of his friend, the vassal, he laid a trap for her –darker than his thoughts or soul. The moment the queen was big enough to rise high and was about to fly, her wings were cut off. The queen fell down, her agony lasted for more than 2 years and her strength was almost run out. What fate have they prepared for her? Certainly, it was not one to make her stand up and return her previous brilliance and splendour. On the contrary, they took her by the hand and by leaps and bounds took her home away from her and put her in a canned bottle so that she could disappear and be forgotten once and for all.

Part Two: But the people did not abandon the queen. She was their only hope for the future – theirs and their children’s. That is why they released the queen’s spirit from the bottle she was closed in. The spirit spread out fast: it reached the vassal’s castle and the capital of his master (Vienna). It will reach out even further …to Brussels and anywhere else necessary to touch and wake up the people from their dream, people able to return the hope…who will never allow this scenario written in advance and the black outcome planned for years to ever happen again:

CANNED

Manufactured by Raiffeisenbank (Bulgaria) EAD ordered by Bella Bulgaria

Starring:

• The Queen (Tsaritsa) – – Company ‘VITTA FOODS’ LTD, Svilengrad city, producing refrigerated pasta products under the trade name ‘Tsaritsa’ (Queen);
• Ruler – Mr Ventsislav Georgiev – Owner of BELLA Bulgaria;
• Vassal – Mr Momchil Andreev - Executive General Manager of Raiffeisenbank (Bulgaria) EAD

This is our fairy tale …Still, we do hope it will have a happy end.

We told you that story because:

• Dear people, behind that policy of Raiffeisenbank (Bulgaria) EAD there is a Bulgarian banker, born by a Bulgarian mother. (In this relation, how come I happen to think of janissaries and their role in the Ottoman Empire?)
• It is for sure that millions of tales like ours could be told.

People, tell these stories any time and place you think you will be heard! Let’s remove the cork from bottles and set the canned spirits free! Because we cannot win the war if each one of us fights their own little battle. We can win only if we stay together.

To Be, even when the crisis is over.

That story was told by the last survivors out of the 280 workers of ‘VITTA FOODS’ company, Svilengrad city.

*The Bulgarian word for ‘Queen’ is Tsaritsa

CHRONOLOGY – ‘VITTA FOODS’ ACTIVITIES, SVILENGRAD CITY (top)

NOVEMBER 2006 – establishment of ‘VITTA FOODS’ trade company, Svilengrad city, registered in the Trade Register at the Bulgarian Registry Agency. Main business activity – production and trade with frozen pasta products.

JANUARY 2007 – The construction of a new modern factory for frozen pasta products starts which conforms to all international quality and food safety standards. Agreements already made on the import of machines and equipment from leading companies in Germany, Italy, Greece, Japan, Sweden and more. Already developed own distribution channel. A car park was made fully equipped with refrigerator units. About 40 transportation vehicles were bought with various tonnage parameters - DAF, IVECO, FIAT DOBLO.

DECEMBER 2007 – Production starts at the newly-built site in the city of Svilengrad. Registration certificate at the Regional Inspection for Protection and Control of Public Health. The already developed project for the creation of a franchise chain under the trade name ‘Chicho Hranko’ (Uncle Hranko) starts. The team consists of 146 workers and employees. Offices were structured in the cities of Sofia, Plovdiv, Varna, Bourgas and Russe. The National Trade Exhibition called ‘Made in Bulgaria’ was held at NDK (Sofia) from 14th to 28th Dec 2007. The prestigious ‘Silver Lion’ award was given to ‘VITTA FOODS’ company for effective advertising and marketing.

FEBRUARY 2008 – The production of a new range of pasta products starts from roll pastry and puff pastry. It is a joint project carried out by VITTA FOODS company and the University of Food Technology, Plovdiv city, under the management of Prof. D-r. Eng. Grozdan Karadjov from the Department ‘Technology of the grain, forage and bread foods’. The company donates 40 000 BGN to the university for the building reconstruction and for the construction of comfortable conditions to carry out production educational activities.
The first goods of VITTA FOODS company are the frozen products under the name ‘Tsaritsa’ (Queen) – home-made curved patty (rolled banitsa), filo pastry mini patties and home-made roll pastry which are sold in the food chains ‘Fantastico’, ‘Elemag’, ‘345’, as well as in other big and small supermarkets in the whole country.
The team now is 167 workers and employees. Company’s market share – 20,2%.

APRIL 2008 – The chain ‘Chicho Hranko’ (Uncle Hranko) has 98 franchise sites all over the country and 58 more signed contracts. From 11th to 20th April 2008 at NDK (the National Palace of Culture, Sofia) the NINTH EDITION OF THE PRODUCERS FAIR ‘CHOOSE THE BULGARIAN!’ was held. The VITTA FOODS trademark ‘Chicho Hranko’ receives FIRST PRIZE in sector ACHIEVEMENTS for being the most prosperous and successfully developing company in the year 2007.
The team now is 169 workers and employees. Company’s market share - 31,9%.

MAY 2008 – For the first time VITTA FOODS presents its products at the International Spring fair in Plovdiv, held between 12th and 17th May. VITTA FOODS receives golden medal and certificate for the products with the name Tsaritsa. The chain ‘Chicho Hranko’ receives a Gold Medal and certificate too. A special diploma for ‘An attractive design of exhibition display’ was given to the company’s stall specifically designed for the Plovdiv fair.

JUNE 2008 – The Principal is the Ministry of Labour and Social Policy, procedure BG 2005/017-353.10.01 ‘Human Resource Development and Promotion of Employment’ under the scheme for gratuitous help of the Phare programme. The project value amounts to 45 934,07 EUR. The deadline for implementation is 12 months ending on 31st May 2009.
Project partner is the Union of Food Industry. Company’s market share – 37%.
VITTA FOODS starts the implementation of its first project under European programs.

SEPTEMBER 2008 – On 10th and 11th Sept 2008 VITTA FOODS successfully passes IFS (International Food Standard) and BRC (British Retail Consortium Global Standard) certification. The certification was carried out under the accredited schemes of UKAS (Great Britain) and HDE/DAR (Germany). The audit was performed by an international team under the personal supervision of the world manager of the certification scheme BRC – Mr. Per Nørgaard – Technical Director of Bureau Veritas, Denmark. ‘VITTA FOODS’ is one of the few companies in the European Union having outstanding results in the initial check phase, achieved mainly due to its management and owners’ commitment, staff competency, modern infrastructure and high-technology equipment.
‘The control on the production processes is on a much higher level than at most companies certified by me in Scandinavia, a country considered to be the example in the food production industry. With that way of thinking and on such a scale, it is no wonder that in a very short time ‘VITTA FOODS’ has imposed itself as a preferred trademark. I have a noble envy about Bulgarian consumers and I hope in the near future to be able to buy ‘Tsaritsa’ in Copenhagen’, says Per Nørgaard, after the certification audit has been made. The Director of Bureau Veritas Certification Mr. Kalin Panev adds: ’It’s an honour to have ‘VITTA FOODS’ among our clients. It is a company where no compromise is made with food safety and quality’.
‘The management’s broad-mindedness and the employees’ professionalism have made the company the standard for quality in this industry. Currently we are working on the ‘VITTA FOODS’ certification for 4 additional standards and I am sure that very soon this will be the only company in Bulgaria meeting the requirements of six international standards. I am proud there is such a company in Bulgaria’.
The company’s products are exported to Romania, Great Britain, Greece, the USA, Holland, Spain and others. In Bulgaria serious market position is won by signed agreements with Metro, Kaufland, Piccadilli and other chains.
The team now is 196 workers and employees. Company’s market share - 38%.

OCTOBER 2008 – The company proposes to Raiffeisenbank (Bulgaria) EAD an extension of the payments on the principal of the credit granted and the granting of a new credit for working capital so that it can finalize the production and distribution in the strong months of production sales namely October, November and December. Both requests are rejected which leads to its incapability to manufacture and fulfill customers’ requests. Claims for damages were made for unfulfilled contracts. ‘VITTA FOODS’ falls into insolvency.

DECEMBER 2008 – VITTA FOODS ceases payments for the investment credit.

MAY 2009 – On 11th May 2009 a project draft for funding of ‘VITTA FOODS’ company is approved amounting to 157 800,00 BGN. The project is under the Operational Program ‘Development of the Competitiveness of the Bulgarian Economy’ 2007-2013, an open procedure for competitive projects selection with a certain application deadline: BG161PO003-2.1.03 ‘Achieving compliance with internationally recognized standards’. Despite the efforts made, a Contract with the Governing body of the Operational Program – the Ministry of Economy – was not signed due to the inability of the Company to co-finance the project activities. The staff from the Sales and Transport departments was made redundant; partial lay-offs were made in the Production department.
The company’s staff now is 130 workers and employees.

JUNE 2009 – ‘VITTA FOODS’ stops payments on the working credit and falls into over-indebtedness.

AUGUST 2010 – The staff (now 43 workers and employees) produces goods for other companies on cut and make basis. The building is Raiffeisenbank (Bulgaria) EAD property, the main machines are property of Raiffeisen Leasing Bulgaria Ltd. The company is declared to be insolvent and over-indebted. A trustee is assigned.

EVENTS ORDER/SEQUENCE (top)

№	№/Date	Resume
1.	26.10.2010 Incoming №001-49226/27th Oct 2010 RFB-Sofia	A Letter addressed to the Executive Director of Raiffeisenbank (Bulgaria) EAD from VITTA FOODS LTD (Svilengrad) workers and employees, regarding: Disturbing information received about the future intentions of potential buyers of VITTA FOODS LTD assets. Workers are worried by information according to which BELLA Bulgaria independently or with the help of straw men aims at buying the company’s assets so that it can shut down production and gain total monopoly in the segment of frozen pasta foods. The main request of the workers is that the Bank provides for purchase VITTA FOODS assets only to a buyer whose one and only aim will be to restore to health and expand the company’s production in Svilengrad. A list is attached with the names, job titles and signatures of 30 workers and employees. No answer was received. Download/Open document
2.	26.10.2010	A Letter addressed to Raiffeisenbank (Bulgaria) EAD from a powerful investor regarding: Investment Intentions . An investment interest to purchase VITTA FOODS assets is declared by a powerful investor with excellent reputation and leadership positions on the market of production and trade with fast-moving consumer goods.
3.	01.11.2010 Incoming № 510-1333/1st Nov 2010 RFB – Haskovo	A Letter to the Executive Director of Raiffeisenbank (Bulgaria) EAD from representatives of VITTA FOODS’s workers and employees, Svilengrad city, regarding: Initiating a meeting with the Executive Director of Raiffeisenbank (Bulgaria) EAD A concern about a possible deal close between the Bank and BELLA Bulgaria is expressed, which would lead to production shut-down. The main request is repeated: that the Bank provides for purchase VITTA FOODS assets only to a buyer whose one and only aim will be to restore to health and expand the company’s production in Svilengrad. It is pointed out the main role of the staff to protect the bank’s property from the moment the assets were bought and a pressing request for a meeting was once again made. No answer was received. Download/Open document
4.	01.11.2010 Incoming№ 3362/3rd Nov 2010 Raiffeisen Leasing	A Letter to the Executive Director of Raiffeisen Leasing Bulgaria from representatives of VITTA FOODS LTD workers and employees, Svilengrad city, regarding: Initiating a meeting with the Executive Director of Raiffeisen Leasing Bulgaria. A concern about a possible deal close between the Bank and BELLA Bulgaria is expressed, which would lead to production shut-down. The main request is repeated once again: that the Bank provides for purchase VITTA FOODS assets only to a buyer whose one and only aim will be to restore to health and expand the company’s production in Svilengrad. It is pointed out the main role of the staff to protect the bank property from the moment the assets were bought and a pressing request for meeting was once again made. No answer was received. Download/Open document
5.	01.11.2010	Letters from the representatives of VITTA FOODS workers and employees addressed to the Mayor of Svilengrad Region and the Municipial Authorities of the political parties – GERB, BSP (The Bulgarian Socialist Party), ATAKA and MRF (The Movement for Rights and Freedoms) - regarding: Support for the implementation of the staff plans for production development. All letters express a concern about the closing down of working places in the running organization and a hope for supporting the staff main request: that the Bank provides for purchase VITTA FOODS assets only to a buyer whose one and only aim will be to restore to health and expand the company’s production in Svilengrad. A letter to the Mayor | A letter to GERB | A Letter to BSP
6.	01.11.2010	The Private Judicial Enforcer Samuil Peev starts putting into possession their property Raiffeisenbank (Bulgaria) EAD (owner of real estate together with the Establishment for frozen pasta goods built in it and put into operation) and Raiffeisen Leasing Bulgaria Ltd. (the owner of the main production machines). The writ of possession is completed on 2nd Nov 2010. A Writ of Possession Protocol is signed. Production is suspended and a period of 5 days (from 3rd Nov 2010 to 05:30 PM on 9th Nov 2010) is determined during which all chattel that do not belong to the Bank or Leasing be taken away from the establishment territory. During the writ of possession media representatives and the municipality management are present at the discussions. The Bank’s representatives show total indifference as to the fate of the 40 workers and employees of the establishment.
7.	02.11.2010	The establishment is visited by a potential investor who has meetings with the workers and employees, the bank’s representatives, the municipality management and media. At all meetings it is firmly and unambiguously stated a decision to invest in production in case that it is put into operation and teams and markets are kept.
8.	03.11.2010 Incoming № 516-269/3rd Nov 2010 RFB – Svilengrad	A Request addressed to the Executive Director of Raiffeisenbank (Bulgaria) EAD by Eng. Boyko Georgiev Yanev – Manager of VITTA FOODS LTD, regarding: Extending the period for the removal of raw materials and chattel not belonging to Raiffeisenbank (Bulgaria) EAD A request was made to extend the period for assets release with one month. The reasons for that request are stated along with the aims to be achieved. References are attached for orders already accepted and raw materials already bought to fulfill them. Download/Open document
9.	04.11.2010 Outgoing № 001-39209/4th Nov 2010 RFB – Sofia	A Letter signed by Emanuala Nikolova (Procurator), Nedialko Mihaylov (RM Deputy Director at Raiffeisenbank (Bulgaria) EAD), Dobromir Dobrev and Vasil Koshnicharov (Managers of Raiffeisen Leasing Bulgaria Ltd.) addressed to Mr. Boyko Yanev, regarding: The sale of an establishment for the production of frozen pasta foods in the city of Svilengrad. In the letter an invitation is made to provide a binding written offer and the conditions which it should meet. The position of the Bank and Leasing is stated, namely that they ‘….will decide if an offer will be accepted and if yes, which one, as well as preserving their right not to accept any offer and to engage into negotiations with other potential buyers’. Download/Open document
10.	08.11.2010 Incoming № 516-272/8th Nov 2010 RFB – Svilengrad	A Proposition addressed to the Executive Director of Raiffeisenbank (Bulgaria) EAD by Eng. Boyko Georgiev Yanev, Manager of VITTA FOODS LTD, regarding: Starting negotiations to determine the rent to be paid if the request from 3rd Nov 2010 to extend the period for the assets release is accepted. Download document
11.	08.11.2010	A Letter from the representatives of VITTA FOODS workers and employees addressed to the Областния управител of Haskovo Region , regarding: Support for the implementation of the staff plans for production development The events chronology up that moment is described and a hope is expressed concerning the main request: the Bank’s provision for sale of the VITTA FOODS assets only to a buyer whose only aim will be to restore to health and expand the company’s production in Svilengrad and the extension of the period for assets release, if that is really inevitable, to a period of at least one month. Download/Open document
12.	08.11.2010	A Letter addressed to the Executive Director of Raiffeisen Central Bank, Vienna, Austria, from the VITTA FOODS LTD workers and employees, Svilengrad city. The case is described, letters not answered are enclosed and the same requests are made: the Bank’s provision for sale of the VITTA FOODS assets only to a buyer whose only aim will be to restore to health and expand the company’s production in Svilengrad and the extension of the period for assets release, if that is really inevitable, to a period of at least one month. The discrepancy between the values declared by the Bank (in the sections Mission and Code of Behaviour) and the actual behaviour of its employees in this case. The workers and employees who signed that letter seek an answer to the following questions: Is Raiffeisenbank (Bulgaria) EAD my personal bank? Or are we and our organization simply its victim? Download/Open document
13.	08.11.2010 Outgoing№001-39525/5th Nov 2010 RFB – Sofia	A Letter signed by Emanuala Nikolova (Procurator), Bozhil Velinov, Director of Department Consumer Loans at Raiffeisenbank (Bulgaria) EAD, Vasil Koshnicharov, Manager and Georgi Panhodov, Director of the Legal Department at Raiffeisen Leasing Bulgaria Ltd addressed to Mr. Boyko Yanev, regarding: The Letter from 03 Nov 2010. It is pointed out that VITTA FOODS exploits the machines without grounds which according to the Bank ‘….creates serious risks for us as an owner…..The measures and actions to achieve the goals stated in your letter are the responsibility of neither Raiffeisenbank (Bulgaria) EAD, nor Raiffeisen Leasing Bulgaria OOD’. Download/Open document
14.	08.11.2010 Incoming№516-273/8th Nov 2010 RFB – Svilengrad	A Letter addressed to the Executive Director of Raiffeisenbank (Bulgaria) EAD from Eng. Boyko Georgiev Yanev, Manager of VITTA FOODS LTD, regarding: The Letter from 5th Nov 2010. It is reminded that since the establishment acquisition up to that moment it has been producing with the approval of the Executive Director of Raiffeisenbank (Bulgaria) EAD, having his assurance that it will continue operating until an investor is chosen, after which a reasonable period of time will be granted for the assets to be released. Download/Open document
15.	08.11.2010	The workers are stopped at the checkpoint and are prevented from entering until the coming of the Banks’ representatives. Two security companies are hired for security. Workers’ personal belongings start to be packed and taken out together with chattel, all of which are not the Bank’s or Leasing property, and have not been ordered by the bankruptcy trustee of VITTA FOODS.
16.	09.11.2010	The establishment is released, the assets are ‘canned’.
17.	09.11.2010	A meeting is held initiated by the Mayor of Svilengrad Region with the Executive Director of Raiffeisenbank (Bulgaria) EAD regarding the standpoint of the municipality management and the possibilities to preserve the working places. It is the Bank’s definitive position that it is only interested in the assets price – a bank policy leading to unemployment. Mr. Momchil Andreev says that he is not familiar with the fact that the establishment in Svilengrad is working. That is a lie because: • From the very moment the Bank becomes the owner of VITTA FOODS assets (June 2010) double security is hired at the establishment, which is paid for by the Bank and lets workers in to their working places; • Mr. Momchil Andreev visits personally the establishment, together with Mrs. Hristova (a Bank’s employee at the RM Department). The visits are during workers’ and employees’ working time so his physical presence there is seen by both employees and managers.
18.	10.11.2010 Outgoing№001-39998/9th Nov 2010 RFB – Sofia	A Letter signed by Emanuela Nikolova, Procurator, Nedialko Mihaylov, Deputy Director of the Risk Management Department at Raiffeisenbank (Bulgaria) EAD, Dobromir Dobrev and Vasil Koshnicharov (Managers of Raiffeisen Leasing Bulgaria Ltd.) addressed to Mr. Boyko Yanev, regarding: Letters from 8th Nov 2010. The Bank’s disapproval is confirmed regarding VITTA FOODS further employment of the real estate and machines. An extension of the period for assets release is also declined. Download/Open document
19.	10.11.2010	19. The workers are not allowed to enter the establishment territory by employees of Raiffeisenbank (Bulgaria) EAD. A Protocol was drawn up, signed by the workers and employees. Margarita Ermova, Director of Raiffeisenbank (Bulgaria) EAD branch in Svilengrad refuses to sign the protocol. People who are not a party in this case sign as witnesses. Download/Open document
20.	12.11.2010 Outgoing№И-4155/12th Nov 2010	A Letter addressed to the General Director of the Raiffeisen Central Bank (Austria, Vienna) from the Mayor of Svilengrad Region. The conversation from 9th Nov 2010 with Mr. Momchil Andreev (Executive General Manager of Raiffeisenbank (Bulgaria) EAD) is summarized. A hope is expressed for maximum transperancy when making the sale and solving the problem with the increasing social tension. Download/Open document
21.	12.11.2010 Outgoing №001-40585/11th Nov 2010 RFB – Sofia	A Letter signed by Emanuela Nikolova (Procurator), Nedialko Mihaylov, Deputy Director of the Risk Management Department at Raiffeisenbank (Bulgaria) EAD, addressed to Mr. Boyko Yanev, regarding: A writ of possession is made into an Establishment for frozen foods, Svilengrad city. The Bank definitively insists that all belongings which are not its or Raiffeisen Leasing Bulgaria Ltd. property be moved out of its own establishment. A procedure for granting access to finalize the moving out is defined. Download/Open document
22.	12.11.2010	In a phone conversation with Mr. Hiopler, master at the Raiffeisen Central Bank (Austria, Vienna) the Bank’s Central Office declares its position: non-interference in its branches desicions outside Austira. A written statement is refused by the Raiffeisen Raiffeisen Central Bank (Austria, Vienna).
23.	15.11.2010	A civil protest is about to be held of VITTA FOODS workers and employees in front of the Head Office of Raiffeisenbank (Bulgaria) EAD, in Sofia city, in which the workers want the Bank to listen to the opinion of people concerned about their families future and hear the many proofs showing an active collaboration between Raiffeisenbank and Bella Bulgaria in the last three years, aimed at: buying out the assets, shutting down the production and the endorsement of Bella Bulgaria monopoly in the industry of production and trade with frozen pasta foods. A press release is sent to all media for the protest purposes along with workers’ main demand –somebody to make the commitment to them that the factory will not be sold aiming at a sale by the piece and shutdown. Download/Open the letter to the general manager of Raiffeisen Central Bank Austria, Vienna
24.	16.11.2010	A protest of the VITTA FOODS workers and employees is held in front of the Head Office of Raiffeisenbank (Bulgaria) EAD, in Sofia city. Despite insistence on meeting Mr. Momchil Andreev, the request was not satisfied. The contact group was informed about the opening of the 3 received proposals from investors. According to Emanuela Nikolova (The Banks’ Procurator) the proposals will be sent to the Bank’s Head Office in Vienna, where a decision will be made as to whether a deal will be closed with one of the interested investors. Only two media representatives are present. The Press Release from 15th Nov 2010 is published in a number of electronic media. Information about the protest
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25.	17.11.2010	The Press Release from 17th Nov 2010 regarding the outcome of the protest of VITTA FOODS workers and employees held in front of the Head Office of Raiffeisenbank (Bulgaria) EAD in Sofia is sent out again to all media. Download/Open document
26.	17.11.2010	A Letter addressed to the General Director of Raiffeisen Central Bank, Vienna, by the workers and employees of VITTA FOODS LTD, Svilengrad city. The attitude of the organization’s management team towards the whole case is described. Main conclusions, questions and their answers are described too. The press Release from 17th Nov 2010 is enclosed, raw footage from the protest and a publication at The Weekend (edition 27 of 18-24 April 2009), where the good friendship relation can be seen between Momchil Andreev (Executive General Manager of Raiffeisenbank (Bulgaria) EAD) and Ventsislav Georgiev (Owner of BELLA Bulgaria) – friendship which Momchil Andreev is persistently hiding and denying. Download/Open document
27.	29.11.2010 Outgoing №И-4455/30th Nov 2010	A Letter to the General Director of Raiffeisen Central Bank (Austria, Vienna) from Eng. Georgi Manolov, MAYOR of the Municipality of Svilengrad and Mr. Rumen Danev, REGIONAL GOVERNOR of Haskovo Region. Deep concern is expressed as to the lack of solution to the case VITTA FOODS - Raiffeisenbank (Bulgaria) EAD, leading to mounting social tension in the town of Svilengrad. The expectations are for a fast, transparent and wise desicion, as well as for a written official statement regarding the Bank's future intentions about the case. Download/Open document

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